Precise Biometrics signs license agreement with Gingytech

Precise Biometrics has entered an agreement with Gingy Technology for the licensing of Precise Biometrics’ product for fingerprint recognition, Precise BioMatch Mobile.

The license agreement will generate royalty revenue based on sales of fingerprint sensors from Gingytech that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software and for support & maintenance, which will be recognised starting from the fourth quarter 2015.

“Gingytech is an innovative company with an interesting hybrid fingerprint sensor technology. The agreement with Gingytech strengthens our position as the leading independent supplier of fingerprint software for mobile devices”, says Håkan Persson, CEO of Precise Biometrics.